ASCS launch underscores Amazon’s 3P capacity, BofA says

BofA notes Amazon announced Amazon Supply Chain Services, opening its entire end-to-end logistics network to all businesses and handling everything from raw materials to finished products. While Amazon previously offered elements of its supply chain to third parties, press reports suggest that today’s announcement makes Amazon a more comprehensive and competitive 3PL provider, with customers now having access to Amazon’s freight network, distribution and fulfillment services, and parcel shipping. BofA believes the launch of ASCS alongside management’s unchanged 2026 capex outlook likely signals that Amazon now has sufficient capacity to serve incremental 3P demand. The firm further states that beyond incremental revenues, it believes higher utilization of Amazon’s fixed logistics assets should drive incremental operating leverage. BofA has a Buy rating with a price target of $310 on the shares.

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